When you are looking to purchase a home in central Florida areas such as Plant City, Lakeland, and Winter Haven, there is a long list of criteria you're more than likely searching for, like the number of bedrooms, the size of the yard, and many more.
Once you settle on your dream home and schedule an inspection, one thing the inspector will be checking is the presence of mold in the home. If mold is found, should you proceed with the sale? Read our suggestions on what to do in this situation.
Main Concerns Involving the Presence of Mold in a Home
Before taking too many steps in the process, you should think about the main concerns when it comes to mold being present in a home. The first concern is that mold can cause health issues, especially in the elderly, young children, pregnant women, and those who have preexisting respiratory issues. Typically, the symptoms of mold exposure manifest themselves as similar to that of a hay fever attack—congestion, runny nose, eye irritation, and more.
The other concerns a homebuyer should consider is how much it will cost to remove the mold and how the mold was caused in the first place. If it's going to be a costly process, it may not be worth the investment. Also, you need to ensure it's possible to not only discover but also fix the source of the mold. If the crawl space has mold because it's prone to flood during heavy rains, then you could also be looking at paying someone to come perform grading and drainage services to fix that issue.
Consider the Scope of a Potential Mold Remediation Project
You'll also need to consider how large of a mold remediation project you could potentially be looking at. If the moldy area is small and contained, then it should be relatively easy for a professional mold remediation company to come out and take care of the issue. However, if the mold has spread throughout the home, then you could be looking at thousands upon thousands of dollars to repair mold damage.
Insurance Companies & Lenders May Not Want to Work with You if the Mold Problem Is Large
If you find the mold problem is too large but are still determined at this point, you will also need to realize that it's going to be more difficult to work with insurance companies and home lenders. In fact, some may not even be willing to work with you. Before agreeing to the purchase of a home with mold, you need to make sure to consult with your home insurance company, your mortgage lender, and your realtor to get their opinions. A small amount of mold more than likely won't be an issue and could even play to your advantage as the buyer to negotiate a lower selling price.
A large amount of mold could end up being a liability that companies won't want to take a risk on insuring or funding.
Are you thinking about buying or selling a home with mold? Call us to come help!
At True Builders, we are a trusted and reliable mold remediation company that also specializes in renovations. We can come to your home, assess the situation, and tell you just how large the mold problem may or may not be. Contact our professionals today at (863) 647-1800 to set up a consultation!
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